NetVendor Expands AI Capabilities Across Full Vendor Lifecycle

NetVendor announced in a press release five new AI features designed to automate and connect every stage of vendor management for property management companies. The updates cover sourcing, bidding, contracts, and compliance, aiming to reduce manual work and improve execution speed.

The new features include automated contract creation that extracts bid data to populate templates, AI generated contract summaries that highlight key terms, and bulk contract uploads that use AI to read and flag critical data. Vendor searches now generate best match results based on project details, and customizable approval workflows automate decision making with built in audit trails.

NetVendor’s platform applies compliance controls across all vendor processes, using machine learning, natural language processing, and large language models to enhance accuracy and risk detection. The company will demonstrate the updated platform at NAA Apartmentalize in New Orleans on June 17 to 19.